McDonald’s (NYSE:MCD) Given New $278.00 Price Target at Bank of America

McDonald’s (NYSE:MCD) had its price target decreased by investment analysts at Bank of America from $288.00 to $278.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the fast-food giant’s stock. Bank of America‘s price objective would indicate a potential upside of 5.26% from the stock’s current price.

Several other research firms have also issued reports on MCD. Evercore ISI reduced their price target on McDonald’s from $330.00 to $300.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 16th. Jefferies Financial Group decreased their target price on shares of McDonald’s from $320.00 to $310.00 and set a “buy” rating on the stock in a research note on Monday. Loop Capital dropped their price target on shares of McDonald’s from $357.00 to $342.00 and set a “buy” rating for the company in a research report on Tuesday. Barclays cut their price target on shares of McDonald’s from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of McDonald’s from $310.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $303.18.

McDonald’s Stock Performance

NYSE:MCD traded up $2.70 during mid-day trading on Tuesday, reaching $264.12. The stock had a trading volume of 1,724,624 shares, compared to its average volume of 3,505,322. McDonald’s has a one year low of $243.53 and a one year high of $302.39. The firm has a 50 day moving average price of $255.32 and a two-hundred day moving average price of $273.29. The stock has a market capitalization of $190.35 billion, a P/E ratio of 22.41, a P/E/G ratio of 2.92 and a beta of 0.71.

McDonald’s (NYSE:MCD) last announced its quarterly earnings data on Monday, July 29th. The fast-food giant reported $2.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.07 by ($0.10). The business had revenue of $6.49 billion during the quarter, compared to analysts’ expectations of $6.62 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. McDonald’s’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the company posted $3.17 EPS. Research analysts forecast that McDonald’s will post 12.05 earnings per share for the current year.

Insider Activity at McDonald’s

In related news, EVP Jonathan Banner sold 800 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $275.02, for a total value of $220,016.00. Following the completion of the transaction, the executive vice president now owns 19 shares of the company’s stock, valued at approximately $5,225.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other McDonald’s news, EVP Marion K. Gross sold 1,498 shares of McDonald’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $248.26, for a total value of $371,893.48. Following the sale, the executive vice president now directly owns 1,560 shares in the company, valued at approximately $387,285.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jonathan Banner sold 800 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares of the company’s stock, valued at approximately $5,225.38. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,594 shares of company stock worth $1,454,507. 0.23% of the stock is owned by company insiders.

Hedge Funds Weigh In On McDonald’s

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCD. Country Club Bank GFN grew its holdings in shares of McDonald’s by 2.5% in the fourth quarter. Country Club Bank GFN now owns 9,852 shares of the fast-food giant’s stock valued at $2,915,000 after purchasing an additional 242 shares in the last quarter. TIAA Trust National Association lifted its position in McDonald’s by 24.5% during the fourth quarter. TIAA Trust National Association now owns 58,582 shares of the fast-food giant’s stock valued at $17,370,000 after purchasing an additional 11,524 shares during the last quarter. Solstein Capital LLC grew its stake in shares of McDonald’s by 32.4% in the 4th quarter. Solstein Capital LLC now owns 2,248 shares of the fast-food giant’s stock worth $667,000 after buying an additional 550 shares in the last quarter. Regent Peak Wealth Advisors LLC increased its holdings in shares of McDonald’s by 16.0% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 12,231 shares of the fast-food giant’s stock worth $3,627,000 after buying an additional 1,691 shares during the last quarter. Finally, Buck Wealth Strategies LLC raised its position in shares of McDonald’s by 3.3% during the 4th quarter. Buck Wealth Strategies LLC now owns 2,063 shares of the fast-food giant’s stock valued at $612,000 after buying an additional 65 shares in the last quarter. 70.29% of the stock is owned by institutional investors.

About McDonald’s

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.